JMP Securities raised the firm’s price target on KKR (KKR) to $155 from $150 and keeps an Outperform rating on the shares. Stocks of the public Alternative Asset Managers have performed quite well recently, with the group on average up 50% year to date, driven by a number of factors, including the high-growth nature of the Alts industry and accelerating underlying business trends more recently, the analyst tells investors in a research note. JMP believes the bar continues to move higher for the group, specifically for Q3 earnings, and says KKR has delivered, with quarterly results and trends supporting the name post-earnings.
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